Fair price to replace 4 Radiator Hoses on 1997 BMW 528i?

I recently bought a used 1997 BMW 528i, and have had radiator/overheating problems. Took it in for service, and was told that the 4 "back hoses" would need to be replaced right away before they could even diagnose the source of the problem. I was quoted a price of around $450 for the hoses and related labor. Am I getting fleeced? I don't want to go further down this road --- at this pace, I may be paying more than the car's worth to fix it.